Unilever buys Dollar Shave Club for around $1bn
Although Unilever did not disclose any financial details, press reports put the price at around $1bn.
Founded in 2012, the company had turnover of $152m last year and is on track to exceed $200m in 2016.
Kees Kruythoff, president of Unilever North America, said: "Dollar Shave Club is an innovative and disruptive male grooming brand with incredibly deep connections to its diverse and highly engaged consumers.
"In addition to its unique consumer and data insights, Dollar Shave Club is the category leader in its direct-to-consumer space. We plan to leverage the global strength of Unilever to support Dollar Shave Club in achieving its full potential in terms of offering and reach."
Dollar Shave Club's brand range includes Wanderer men's personal wash products, Big Cloud men's skin care products, Boogies hair styling products and One Wipe Charlies daily wipes. ■